Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The German company Rohde, the largest manufacturer of footwear in Portugal, will close its factory in Santa Maria da Feira with the loss of 980 jobs.
A rescue plan had been proposed by administrators but 866 out of 921 workers voting rejected the proposed rescue plan and therefore ensured the plant's closure.
The representatives of the footwear industry trade union in the district of Aveiro and Coimbra say that the workers' decision reflects their frustration that their positions have already been in the balance for over one year. Their contracts were suspended in December and the workers have since been receiving unemployment benefit.
The Santa Maria da Feira Municipality announced that other companies in the region - with the highest unemployment rate in the country - will be unable to absorb the workers who now lost their jobs.
The Portuguese authorities applied for aid from the European Globalisation Adjustment Fund (EGF) and the application is currently being assessed.
Eurofound (2010), Rohde, Bankruptcy in Portugal, factsheet number 70574, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70574.